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China National Materials Co Ltd Comments On FY 2012 Net Profit Guidance

Thursday, 31 Jan 2013 09:00am EST 

China National Materials Co Ltd announced that for fiscal 2012, it expects unaudited net profit to decrease by approximately 50% as compared to the corresponding period of fiscal 2011 (based on the disclosed statistics according to relevant laws). For fiscal 2011, net profit attributable to the owners of Sinoma International was RMB1,537,798,114.50 and basic earnings per share was RMB1.69 (calculated based on the share capital of Sinoma International as at the date of 31 December 2011). The expected decrease of the results of Sinoma International is mainly attributable to: 1) that according to the principle of caution, Sinoma International made relatively loss provision due to the risk at the repayments, receivables, inventories and notes for the steel trading business of Sinoma Equipment & Engineering Corp., Ltd, a wholly owned subsidiary of Sinoma International; and 2) the relative decrease in the results of cement equipment engineering, the main business of Sinoma International, as compared to the corresponding period last year. 

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